Australian uranium shares surge on news of Kazatomprom production shortfall

Uranium price surge ASX Kazatomprom production shortfall Local uranium shares soared on Friday after news broke that Kazatomprom, the world’s largest exporter of the nuclear fuel, will likely miss potential production targets for 2024 by a fifth due to construction delays and problems obtaining sulphuric acid .

Kazatomprom’s woes sent Australian uranium shares rising and traders will be looking for another jump in the spot price, which marched through the US$100 per pound level just two weeks ago.

Kazakhstan’s national atomic company said it should be able to meet contractual supply agreements for this year. However, it’s Kazatomprom’s planned growth that has been affected.

Invest in the latest ASX IPOs and placements It has mining permits for 20% more uranium output than it looks likely to be able to deliver.Kazatomprom produced 21,112 tonnes of uranium last year, slightly less than in 2022.This year’s output by the company’s mines is expected within […]

Click here to view original web page at smallcaps.com.au

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.